The Central Bank of Nigeria has issued a framework for regulatory sandbox operations. According to the Bank, the Framework will enable it to ‘stay abreast of innovations while promoting
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Australia: APRA extends Initial Margin Requirements for Non-centrally Cleared Derivatives Commencement Dates
The Australian Prudential Regulation Authority (APRA) has deferred by one year the commencement dates for the final two phases of the initial margin requirements for non-centrally cleared derivatives. The -
Implementation of the Principles for Effective Risk Data Aggregation and Reporting
The Basel Committee on Banking Supervision has published its progress report on banks’ implementation of the Principles for effective risk data aggregation and reporting (Principles). Issued in 2013, the -
Czech National Bank launches FinTech contact point
The Czech National Bank (CBN) has established a FinTech contact point. In so doing, the CBN is following the lead of the European Supervisory Authorities, which already have FinTech -
Financial Institutions Regulation: Major Developments This Week
…regulatory developments across the globe this week that may be of interest. REGULATORY CHANGES 1. Switzerland: Pillar 3 Disclosure Requirements – Regulatory Treatment of Accounting Provisions The
December 1, 2019
Regulation of Mortgage Guarantee Companies in Nigeria
The Central Bank of Nigeria has published final Regulation for the Operations of Mortgage Guarantee Companies in Nigeria (Guideline). The Guideline prescribes the basic requirements for the business of providing mortgage guarantees to mortgage lenders. It sets the capital requirements for the Mortgage Guarantee Companies (MGCs). In addition, Africa
December 1, 2019
Isle of Man: Financial Services Authority amends AML/CFT Handbook
The Finacial Services Authority has amended the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Handbook. The regulator introduced the amendments partly to reflect the Financial Action Task Force’s statement entitled ‘Improving AML/CFT Compliance: Update on Ongoing Process.’ Full details of the amendments are available here. Europe
November 27, 2019
New Brunswick: Financial regulator launches unclaimed property program
The provincial government has introduced a new Unclaimed Property Act, which includes the creation of an unclaimed property program. The program, to be administered by the Financial and Consumer Services Commission, is expected to assist to protect New Brunswickers. It is also expected to facilitate the injection of North America
November 27, 2019
FSB: Updated regulatory framework for haircuts on OTC securities financing transactions
The Financial Stability Board has published updated regulatory framework for haircuts on certain non-centrally cleared securities financing transactions (SFTs). The framework aims to address financial stability risks associated with SFTs. The framework outlines numerical haircut floors applicable to non-bank-to-non-bank SFTs. Photo Credit: Pixabay Other